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dc.contributor.authorFrieden, Jeffry A.en_US
dc.date.accessioned2009-08-12T07:17:10Z-
dc.date.available2009-08-12T07:17:10Z-
dc.date.issued2009en_US
dc.identifier.citationEconomics: The Open-Access, Open-Assessment E-Journal 3 2009-6 1-13 doi:10.5018/economics-ejournal.ja.2009-6-
dc.identifier.pidoi:10.5018/economics-ejournal.ja.2009-6-
dc.identifier.urihttp://hdl.handle.net/10419/27526-
dc.description.abstractIs there a valid argument for international cooperation, and some form of international governance structure, in the international monetary realm? On the purely economic front, the argument is not strong. Yet a broader political economy approach concludes that national currency policy can in fact impose non-pecuniary externalities on partner nations. This is especially the case with major policy-driven misalignments, which cannot easily be countered by other governments. For example, one country's substantially depreciated currency can provoke powerful protectionist pressures in its trading partners, so that exchange rate policy spills over into trade policy in potentially damaging ways. Inasmuch as one government's policies create these sorts of costs for other countries, and for the world economy as a whole, there is a case for global governance. This might include some institutionalized mechanism to monitor and publicize substantial currency misalignments. While there appears to be little global political attention to such a mechanism now, there have been initiatives along these lines at the regional level, and the current crisis may have stimulated more general stirrings of interest.en_US
dc.language.isoengen_US
dc.publisherKiel Institute for the World Economy (IfW) Kiel-
dc.subject.jelF42en_US
dc.subject.jelF55en_US
dc.subject.jelH87en_US
dc.subject.ddc330en_US
dc.subject.keywordInternational policy coordination and transmissionen_US
dc.subject.keywordinternational institutional arrangementsen_US
dc.subject.keywordinternational fiscal issuesen_US
dc.subject.stwInternationales Währungssystemen_US
dc.subject.stwInternationale Währungspolitiken_US
dc.subject.stwGlobal Governanceen_US
dc.subject.stwWelten_US
dc.titleGlobal Governance of Global Monetary Relations: Rationale and Feasibilityen_US
dc.typeArticleen_US
dc.identifier.ppn593804422en_US
dc.rights.licensehttp://creativecommons.org/licenses/by-nc/2.0/de/deed.en-
dc.identifier.repecRePEc:zbw:ifweej:7550-
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